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Organization forms group to examine new annuity rules
Worried that new suitability rules for annuities will lead to conflicts between insurers and broker-dealers, an annuity advocacy organization has formed a working group of both parties to work out a solution.
NFP offers to buy $230M in notes
Financial advisory firm National Financial Partners Corp. said Wednesday it began a tender offer for $230 million in senior notes.
Advisers will have their hands full with the reform law
The Dodd-Frank financial-reform bill has been signed into law by President Barack Obama, for better or worse.
HighTower adds adviser recruiters from Fidelity, UBS
HighTower Advisors LLC, a dually-registered firm that has been successful in luring talent from wirehouses, today announced that it is furthering its expansion efforts by hiring two recruiters who will focus on the Midwest and Western regions of the country.
HighTower chief blasts lift-out lawsuit from Morgan Stanley
Elliot Weissbluth calls suit an intimidation tactic designed to deter other advisers from leaving
MSSB team in N.Y. jumps ship to join surging HighTower
HighTower Advisors LLC last Tuesday announced that it had snapped up another team of advisers, this time from Morgan Stanley Smith Barney LLC.
Ex-Wells Fargo broker opens indie shop in his branch’s shadow
Jeffrey Sica spent more than four years plotting his move from Wells Fargo Advisors LLC to independence but stumbled a day before he planned to give notice.
TD Ameritrade recruiting breakaway brokers at a rapid clip
TD Ameritrade Institutional reported today that it has attracted more breakaway advisers to the firm during the first nine months of its current fiscal year than it did in all of fiscal 2009.
Finra should err on the side of openness
THIS IS A TIME when greater openness is being demanded of the financial and business communities. The Dodd-Frank…
Finra could add board to oversee RIAs: Pershing’s Brueckner
The Financial Industry Regulatory Authority Inc. could oversee registered investment advisers through a separate governance structure, according to Richard Brueckner, a longtime member of the self-regulatory organization's board.
RIAs increasing payouts, employee benefits: TD survey
Registered investment advisers are starting to increase compensation levels at their firms — and are also spending more on employee benefits — according to a survey from TD Ameritrade Institutional.
Fidelity broadens duties of two RIA executives
In yet another shakeup at the company, Scott Dell'Orfano adds relationship management to his duties, while Ron Fiske takes on the clearing unit.
Charles Goldman to leave Fidelity
Recruited from Charles Schwab Corp., Mr. Goldman will be leaving Fidelity after just one year.
BNY Mellon buys $3B wealth manager
BNY Mellon on Friday said it reached a deal to buy I(3) Advisors of Toronto, an independent company with more than C$3.5 billion ($3.4 billion) in assets under advisement.
BNY Mellon names Hughes to lead Its wealth management unit
Bank of New York Mellon Corp. named Lawrence Hughes head of its wealth-management unit, replacing David Lamere, who resigned.
Rockefeller & Co. hires wealth adviser
Matthew Gelfand, former Fed hand, signs on with family office firm
Rockefeller & Co. comes up with new name, but no new CEO
Rockefeller & Co., Inc., the wealth management firm that has been looking for a chief executive since the suicide of CEO James McDonald last fall, has changed its name to Rockefeller Financial.
Penson expects to take over Ridge Clearing accounts next week
Penson Worldwide Inc. said that it expects its U.S. securities-clearing subsidiary, Penson Financial Services Inc., to begin serving accounts of Ridge Clearing and Outsourcing Solutions Inc. on or about June 25.
Silver Bridge to buy advisory firm with $400M in assets
Officials for Silver Bridge Advisors LLC said today they to plan to purchase a San Francisco-area investment adviser, adding that their firm has created a separate entity to better market itself to wealthy families and family offices.
Big recruiting deals in AdviserLand: What’s going on?
Monday’s Wall Street Journal had an article about B of A/Merrill Lynch increasing their deals for recruits at…
